Price Reversal at Key Support with Consolidation Expected
Technical Analysis:
The price has reached the previously identified support zone and has once again reversed its course.
At present, it is anticipated that the price will attempt to reach 5,863, provided it continues to trade above the 5,824 and 5,800 levels. However, the price is likely to remain in a consolidation phase between 5,863 and 5,824 until a decisive breakout occurs.
Key Levels:
Pivot Point: 5837
Resistance Levels: 5863, 5891, 5939
Support Levels: 5824, 5812, 5781
Trend Outlook:
Bearish below 5824
Bullish above 5824
The price has reached the previously identified support zone and has once again reversed its course.
At present, it is anticipated that the price will attempt to reach 5,863, provided it continues to trade above the 5,824 and 5,800 levels. However, the price is likely to remain in a consolidation phase between 5,863 and 5,824 until a decisive breakout occurs.
Key Levels:
Pivot Point: 5837
Resistance Levels: 5863, 5891, 5939
Support Levels: 5824, 5812, 5781
Trend Outlook:
Bearish below 5824
Bullish above 5824
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